{"id":21757,"date":"2023-12-06T02:54:07","date_gmt":"2023-12-06T02:54:07","guid":{"rendered":"https:\/\/masterskills.org\/blog\/npv-la-gi-uu-nhuoc-diem-va-cong-thuc-tinh.html"},"modified":"2023-12-22T04:56:14","modified_gmt":"2023-12-21T21:56:14","slug":"npv-la-gi-uu-nhuoc-diem-va-cong-thuc-tinh","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/npv-la-gi-uu-nhuoc-diem-va-cong-thuc-tinh.html","title":{"rendered":"NPV l\u00e0 g\u00ec? \u01afu nh\u01b0\u1ee3c \u0111i\u1ec3m v\u00e0 c\u00f4ng th\u1ee9c t\u00ednh"},"content":{"rendered":"<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><\/figure>\n<h2><span id=\"NPV_la_gi\"><strong>NPV l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n<p>NPV l\u00e0 t\u1eeb vi\u1ebft t\u1eaft c\u1ee7a Net Present Value c\u00f3 ngh\u0129a l\u00e0 gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng ho\u1eb7c gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n.\u00a0<\/p>\n<p>Gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n (NPV) l\u00e0 gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c d\u00f2ng ti\u1ec1n d\u1ef1 ki\u1ebfn, \u0111\u01b0\u1ee3c chi\u1ebft kh\u1ea5u \u1edf th\u1eddi \u0111i\u1ec3m hi\u1ec7n t\u1ea1i.\u00a0NPV l\u00e0 ph\u01b0\u01a1ng ph\u00e1p ti\u00eau chu\u1ea9n cho vi\u1ec7c s\u1eed d\u1ee5ng gi\u00e1 tr\u1ecb th\u1eddi gian c\u1ee7a ti\u1ec1n \u0111\u1ec3 th\u1ea9m \u0111\u1ecbnh c\u00e1c d\u1ef1 \u00e1n d\u00e0i h\u1ea1n.<\/p>\n<p>C\u1ee5 th\u1ec3 h\u01a1n, NPV l\u00e0 ch\u00eanh l\u1ec7ch gi\u1eefa t\u1ed5ng c\u00e1c d\u00f2ng ti\u1ec1n th\u1ef1c thu c\u1ee7a d\u1ef1 \u00e1n v\u1edbi t\u1ed5ng c\u00e1c d\u00f2ng chi ph\u00ed \u0111\u1ea7u t\u01b0 c\u1ee7a d\u1ef1 \u00e1n \u0111\u01b0\u1ee3c quy v\u1ec1 m\u1eb7t b\u1eb1ng th\u1eddi gian hi\u1ec7n t\u1ea1i theo m\u1ed9t t\u1ef7 su\u1ea5t ho\u00e0n v\u1ed1n nh\u1ea5t \u0111\u1ecbnh.<\/p>\n<p>Gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n (NPV) c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ph\u01b0\u01a1ng ph\u00e1p chi\u1ebft kh\u1ea5u d\u00f2ng ti\u1ec1n, h\u1ed7 tr\u1ee3 c\u00e1c quy\u1ebft \u0111\u1ecbnh v\u1ec1 ng\u00e2n s\u00e1ch v\u1ed1n c\u1ee7a m\u1ed9t c\u00f4ng ty.<\/p>\n<h2><span id=\"Cong_thuc_de_tinh_chi_so_NPV\"><strong>C\u00f4ng th\u1ee9c \u0111\u1ec3 t\u00ednh ch\u1ec9 s\u1ed1 NPV<\/strong><\/span><\/h2>\n<p>\u0110\u1ec3 t\u1ed5ng h\u1ee3p c\u00e1c d\u00f2ng ti\u1ec1n v\u00e0o v\u00e0 ra, m\u1ed7i d\u00f2ng ti\u1ec1n ph\u1ea3i \u0111\u01b0\u1ee3c quy v\u1ec1 m\u1ed9t th\u1eddi \u0111i\u1ec3m nh\u1ea5t \u0111\u1ecbnh. T\u1eeb \u0111\u00f3 c\u00f3 c\u00f4ng th\u1ee9c t\u00ednh NPV t\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m nh\u01b0 sau:<\/p>\n<p>Trong \u0111\u00f3:<\/p>\n<p>i l\u00e0 t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u v\u00e0 t l\u00e0 th\u1eddi gian \u0111\u01b0\u1ee3c t\u00ednh (th\u01b0\u1eddng l\u00e0 n\u0103m)<\/p>\n<p>Khi d\u00f2ng ti\u1ec1n r\u00f2ng kh\u00f4ng \u0111\u1ed3ng \u0111\u1ec1u, t\u1ee9c l\u00e0 d\u00f2ng ti\u1ec1n r\u00f2ng kh\u00e1c nhau gi\u1eefa c\u00e1c th\u1eddi k\u1ef3 th\u00ec s\u1ebd c\u00f3 c\u00f4ng th\u1ee9c nh\u01b0 sau:<\/p>\n<p>Trong \u0111\u00f3: Rt: d\u00f2ng ti\u1ec1n v\u00e0o t\u1ea1i th\u1eddi \u0111i\u1ec3m t; i: t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u; Co: Chi ph\u00ed \u0111\u1ea7u t\u01b0 ban \u0111\u1ea7u; t: th\u1eddi gian \u0111\u01b0\u1ee3c t\u00ednh (th\u01b0\u1eddng l\u00e0 n\u0103m).<\/p>\n<h2><span id=\"Y_nghia_cua_chi_so_NPV_la_gi\"><strong>\u00dd ngh\u0129a c\u1ee7a ch\u1ec9 s\u1ed1 NPV l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n<p>K\u1ebft qu\u1ea3 c\u1ee7a m\u1ed7i NPV l\u00e0 kh\u00e1c nhau, c\u00f3 th\u1ec3 l\u00e0 d\u01b0\u01a1ng, c\u00f3 th\u1ec3 l\u00e0 \u00e2m ho\u1eb7c b\u1eb1ng 0. T\u1eeb ch\u1ec9 s\u1ed1 n\u00e0y c\u00f3 th\u1ec3 t\u01b0\u01a1ng \u1ee9ng v\u1edbi vi\u1ec7c m\u1ed9t d\u1ef1 \u00e1n n\u00ean \u0111\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hay kh\u00f4ng.<\/p>\n<p>+ N\u1ebfu k\u1ebft qu\u1ea3 NPV c\u1ee7a d\u1ef1 \u00e1n ho\u1eb7c kho\u1ea3n \u0111\u1ea7u t\u01b0 l\u00e0 s\u1ed1 d\u01b0\u01a1ng, \u0111i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn k\u1ef3 v\u1ecdng ki\u1ebfm \u0111\u01b0\u1ee3c t\u1eeb d\u1ef1 \u00e1n ho\u1eb7c kho\u1ea3n \u0111\u1ea7u t\u01b0 l\u00e0 c\u00f3, cho th\u1ea5y m\u1ee9c \u0111\u1ed9 h\u1ea5p d\u1eabn c\u1ee7a d\u1ef1 \u00e1n.\u00a0V\u00ec th\u1ebf, n\u1ebfu gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n NPV l\u1edbn h\u01a1n 0, d\u1ef1 \u00e1n \u0111\u00f3 n\u00ean \u0111\u01b0\u1ee3c th\u00f4ng qua.<\/p>\n<p>+ N\u1ebfu NPV c\u1ee7a m\u1ed9t d\u1ef1 \u00e1n ho\u1eb7c kho\u1ea3n \u0111\u1ea7u t\u01b0 l\u00e0 s\u1ed1 \u00e2m. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn k\u1ef3 v\u1ecdng c\u1ee7a d\u1ef1 \u00e1n nh\u1ecf h\u01a1n t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u. \u0110i\u1ec1u n\u00e0y tuy ch\u01b0a ch\u1eafc ch\u1eafn 100% d\u1ef1 \u00e1n s\u1ebd l\u1ed7 nh\u01b0ng v\u00ec t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c t\u1ea1o ra nh\u1ecf h\u01a1n t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u n\u00ean n\u00f3 \u0111\u01b0\u1ee3c coi l\u00e0 kh\u00f4ng c\u00f3 gi\u00e1 tr\u1ecb. \u0110\u00e2y l\u00e0 c\u01a1 s\u1edf \u0111\u1ec3 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e2n nh\u1eafc kh\u00f4ng n\u00ean th\u00f4ng qua d\u1ef1 \u00e1n.<\/p>\n<p>+ N\u1ebfu k\u1ebft qu\u1ea3 NPV b\u1eb1ng 0, d\u1ef1 \u00e1n hay kho\u1ea3n \u0111\u1ea7u \u0111\u00f3 kh\u00f4ng c\u00f3 l\u00e3i nh\u01b0ng c\u0169ng kh\u00f4ng l\u1ed7 m\u00e0 l\u00e0 h\u00f2a v\u1ed1n. T\u1ea5t nhi\u00ean, ch\u1ee7 \u0111\u1ea7u th\u01b0 c\u00f3 th\u1ec3 th\u00f4ng qua ho\u1eb7c kh\u00f4ng th\u00f4ng qua d\u1ef1 \u00e1n t\u00f9y v\u00e0o t\u1ef7 su\u1ea5t chi\u1ebft kh\u1ea5u k\u1ef3 v\u1ecdng \u0111\u01b0a ra ban \u0111\u1ea7u l\u00e0 l\u1ea1c quan hay kh\u00f4ng.<\/p>\n<h3><span id=\"Vi_du_ve_cach_tinh_gia_tri_hien_tai_rong_NPV\"><strong>V\u00ed d\u1ee5 v\u1ec1 c\u00e1ch t\u00ednh gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng NPV<\/strong><\/span><\/h3>\n<p>M\u1ed9t c\u00f4ng ty s\u1ea3n xu\u1ea5t thi\u1ebft b\u1ecb \u0111i\u1ec7n t\u1eed c\u00f3 k\u1ebf ho\u1ea1ch th\u1ef1c hi\u1ec7n m\u1ed9t c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 m\u1edbi. Th\u1eddi gian \u01b0\u1edbc t\u00ednh l\u00e0 b\u1ed1n n\u0103m.<\/p>\n<p>Ngo\u00e0i ra, t\u1ef7 l\u1ec7 chi\u1ebft kh\u1ea5u l\u00e0 10% (0,1). Trong khi \u0111\u00f3, d\u00f2ng ti\u1ec1n trong nh\u1eefng n\u0103m ti\u1ebfp theo \u0111\u01b0\u1ee3c \u0111\u01b0a ra theo \u0111\u01a1n v\u1ecb $ l\u00e0<\/p>\n<p>N\u0103m 0: \u2013 200.000<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 1: 100.000<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 2: 90.000<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 3: 80.000<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 4: 70.000<\/p>\n<p>\u00a0 \u00a0<\/p>\n<h2><span id=\"Cach_tinh_gia_tri_hien_tai_thuan\"><strong>C\u00e1ch t\u00ednh gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n<\/strong><\/span><\/h2>\n<p>B\u00e2y gi\u1edd ch\u00fang ta h\u00e3y ph\u00e2n t\u00edch c\u00f4ng th\u1ee9c NPV \u0111\u1ec3 t\u00ednh gi\u00e1 tr\u1ecb n\u00e0y:<\/p>\n<p>N\u0103m 0 = \u2013 200.000\/ (1+ 0,1)0 = \u2013 200.000<\/p>\n<p>N\u0103m 1 = 100.000\/ (1 + 0,1)1 = 90.909<\/p>\n<p>N\u0103m 2: 90.0000\/ (1 + 0,1)2 = 74.380<\/p>\n<p>N\u0103m 3: 80.000\/ (1 + 0,1)3 = 60.150<\/p>\n<p>N\u0103m 4: 70.000\/ \/ (1 + 0,1)4 = 47.945<\/p>\n<p>Gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng (NPV) l\u00e0 73375 \u0111\u00f4 la -&gt; c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 ph\u00f9 h\u1ee3p.<\/p>\n<h2><span id=\"Uu_nhuoc_diem_cua_gia_tri_hien_tai_rong_NPV\"><strong>\u01afu, nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng NPV<\/strong><\/span><\/h2>\n<h3><span id=\"Voi_cach_tinh_tren_thi_uu_nhuoc_diem_cua_NPV_la_gi\"><strong>V\u1edbi c\u00e1ch t\u00ednh tr\u00ean th\u00ec \u01b0u nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a NPV l\u00e0 g\u00ec?<\/strong><\/span><\/h3>\n<p><strong>\u01afu \u0111i\u1ec3m<\/strong><\/p>\n<p>\u2013 Vi\u1ec7c t\u00ednh to\u00e1n NPV r\u1ea5t h\u1eefu \u00edch cho ch\u1ee7 \u0111\u1ea7u t\u01b0 hay nh\u00e0 ph\u00e2n t\u00edch khi chu\u1ea9n b\u1ecb ng\u00e2n s\u00e1ch cho m\u1ed9t d\u1ef1 \u00e1n. N\u00f3 cho ph\u00e9p \u0111\u00e1nh gi\u00e1 t\u1ea5t c\u1ea3 c\u00e1c d\u00f2ng ti\u1ec1n \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng, kh\u1ea3 n\u0103ng sinh l\u1eddi. B\u1eb1ng c\u00e1ch t\u00ednh to\u00e1n n\u00e0y, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 t\u1ed5ng doanh thu d\u1ef1 ki\u1ebfn co th\u1ec3 b\u00f9 \u0111\u1eafp chi ph\u00ed ban \u0111\u1ea7u hay kh\u00f4ng.\u00a0<\/p>\n<p>\u2013 NPV cho ph\u00e9p so s\u00e1nh c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 ti\u1ec1m n\u0103ng d\u1ec5 d\u00e0ng. V\u1edbi k\u1ebft qu\u1ea3 c\u1ee5 th\u1ec3, NPV d\u1ec5 d\u00e0ng cho ra k\u1ebft qu\u1ea3 \u0111\u1ec3 nh\u00e0 \u0111\u1ea7u t\u01b0 so s\u00e1nh t\u00ednh kh\u1ea3 thi c\u1ee7a d\u1ef1 \u00e1n, mi\u1ec5n l\u00e0 NPV c\u1ee7a c\u00e1c d\u1ef1 \u00e1n ph\u1ea3i \u0111\u1ea3m b\u1ea3o \u0111\u01b0\u1ee3c t\u00ednh tr\u00ean c\u00f9ng m\u1ed9t th\u1eddi \u0111i\u1ec3m.<\/p>\n<p>Tr\u00ean l\u00fd thuy\u1ebft, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean th\u1ef1c hi\u1ec7n b\u1ea5t k\u1ef3 kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u00e0o c\u00f3 gi\u00e1 tr\u1ecb NPV d\u01b0\u01a1ng v\u00e0 n\u00ean t\u1eeb ch\u1ed1i b\u1ea5t k\u1ef3 quy\u1ec1n ch\u1ecdn n\u00e0o c\u00f3 NPV \u00e2m. Khi c\u00f3 NPV c\u1ee7a nhi\u1ec1u ph\u01b0\u01a1ng \u00e1n, nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd ch\u1ecdn ph\u01b0\u01a1ng \u00e1n c\u00f3 NPV cao nh\u1ea5t v\u00ec n\u00f3 s\u1ebd mang l\u1ea1i nhi\u1ec1u gi\u00e1 tr\u1ecb nh\u1ea5t.<\/p>\n<p>\u2013 NPV r\u1ea5t d\u1ec5 t\u00ednh to\u00e1n (\u0111\u1eb7c bi\u1ec7t l\u00e0 v\u1edbi b\u1ea3ng t\u00ednh).<\/p>\n<p>\u2013\u00a0 NPV s\u1eed d\u1ee5ng d\u00f2ng ti\u1ec1n thay v\u00ec thu nh\u1eadp r\u00f2ng (bao g\u1ed3m c\u00e1c kho\u1ea3n kh\u00f4ng ph\u1ea3i ti\u1ec1n m\u1eb7t nh\u01b0 kh\u1ea5u hao).<\/p>\n<p>\u2013 NPV ghi nh\u1eadn gi\u00e1 tr\u1ecb th\u1eddi gian c\u1ee7a ti\u1ec1n (kh\u00f4ng gi\u1ed1ng nh\u01b0 l\u1ee3i t\u1ee9c b\u1eb1ng ti\u1ec1n m\u1eb7t ho\u1eb7c th\u1eddi gian ho\u00e0n v\u1ed1n \u0111\u01a1n gi\u1ea3n). \u0110\u1ed1i v\u1edbi c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00e0o l\u00e2m nghi\u1ec7p, c\u00f3 xu h\u01b0\u1edbng d\u00e0i h\u1ea1n, \u0111i\u1ec1u n\u00e0y l\u00e0 quan tr\u1ecdng v\u00e0 ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p.<\/p>\n<p><strong>Nh\u01b0\u1ee3c \u0111i\u1ec3m<\/strong><\/p>\n<p><strong>Thi\u1ebfu ch\u00ednh x\u00e1c<\/strong><\/p>\n<p>V\u00ec c\u00f4ng th\u1ee9c t\u00ednh gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng NPV d\u1ef1a tr\u00ean c\u00e1c \u01b0\u1edbc t\u00ednh v\u00e0 ph\u1ea3i gi\u1ea3 \u0111\u1ecbnh c\u00e1c con s\u1ed1 qu\u00e1 nhi\u1ec1u n\u00ean t\u00ednh ch\u00ednh x\u00e1c c\u1ee7a n\u00f3 kh\u00f4ng c\u00f2n cao. C\u00f3 nhi\u1ec1u nh\u00e0 t\u00e0i ch\u00ednh g\u1ecdi t\u00ednh ch\u1ec9 s\u1ed1 NPV l\u00e0 c\u00e1ch \u201cb\u1ed1c thu\u1ed1c\u201d m\u00e0 n\u1ebfu thi\u1ebfu \u0111i s\u1ef1 kh\u00e1ch quan th\u00ec ch\u1ec9 s\u1ed1 r\u1ea5t kh\u00f3 ch\u00ednh x\u00e1c.<\/p>\n<p><strong>Kh\u00f4ng t\u00ednh \u0111\u1ebfn chi ph\u00ed c\u01a1 h\u1ed9i<\/strong><\/p>\n<p>NPV ch\u1ec9 h\u1eefu \u00edch khi so s\u00e1nh c\u00e1c d\u1ef1 \u00e1n t\u1ea1i c\u00f9ng m\u1ed9t th\u1eddi \u0111i\u1ec3m. V\u00ec \u00e1p d\u1ee5ng t\u1ea1i th\u1eddi \u0111i\u1ec3m nh\u1ea5t \u0111\u1ecbnh n\u00ean n\u00f3 kh\u00f4ng t\u00ednh \u0111\u01b0\u1ee3c h\u1ebft c\u00e1c chi ph\u00ed c\u01a1 h\u1ed9i, kh\u00f4ng ph\u1ea3n \u00e1nh ch\u00ednh x\u00e1c nh\u1eefng y\u1ebfu t\u1ed1 kh\u00e1c c\u00f3 th\u1ec3 t\u00e1c \u0111\u1ed9ng t\u1edbi d\u1ef1 \u00e1n.<\/p>\n<p><strong>Kh\u00f4ng ph\u1ea3n \u00e1nh to\u00e0n b\u1ed9 d\u1ef1 \u00e1n<\/strong><\/p>\n<p>M\u1ed9t v\u1ea5n \u0111\u1ec1 kh\u00e1c khi d\u1ef1a v\u00e0o NPV l\u00e0 n\u00f3 kh\u00f4ng cung c\u1ea5p m\u1ed9t b\u1ee9c tranh t\u1ed5ng th\u1ec3 v\u00ec nh\u1eefng ch\u1ec9 s\u1ed1 \u0111\u00f3 \u0111\u01b0\u1ee3c t\u00ednh t\u1ea1i m\u1ed9t th\u1eddi \u0111i\u1ec3m nh\u1ea5t \u0111\u1ecbnh v\u00e0 trong t\u1eebng d\u1ef1 \u00e1n \u0111\u01a1n l\u1ebb.<\/p>\n<p>Hi\u1ec3u r\u00f5 v\u1ec1 ch\u1ec9 s\u1ed1 NPV l\u00e0 g\u00ec gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 \u0111\u01b0\u1ee3c nh\u1eefng nh\u1eadn \u0111\u1ecbnh, \u0111\u00e1nh gi\u00e1 c\u1ee5 th\u1ec3 v\u1ec1 m\u1ed7i d\u1ef1 \u00e1n tr\u01b0\u1edbc khi \u0111\u1ea7u t\u01b0. Tuy nhi\u00ean, NPV ch\u1ec9 l\u00e0 m\u1ed9t c\u00f4ng c\u1ee5 trong r\u1ea5t nhi\u1ec1u c\u00f4ng c\u1ee5 v\u00e0 n\u00f3 c\u00f3 nh\u1eefng h\u1ea1n ch\u1ebf nh\u1ea5t \u0111\u1ecbnh. V\u00ec th\u1ebf, nh\u00e0 \u0111\u1ea7u t\u01b0 mu\u1ed1n c\u00f3 nh\u1eefng quy\u1ebft \u0111\u1ecbnh kinh doanh hi\u1ec7u qu\u1ea3 nh\u1ea5t th\u00ec n\u00ean s\u1eed d\u1ee5ng nhi\u1ec1u c\u00f4ng c\u1ee5 t\u00ednh to\u00e1n kh\u00e1c nhau.<\/p>\n<p style=\"text-align: right\"><strong>Nguy\u1ec5n L\u00fd\u00a0<\/strong><\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NPV l\u00e0 g\u00ec? NPV l\u00e0 t\u1eeb vi\u1ebft t\u1eaft c\u1ee7a Net Present Value c\u00f3 ngh\u0129a l\u00e0 gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i r\u00f2ng ho\u1eb7c gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n.\u00a0 Gi\u00e1 tr\u1ecb hi\u1ec7n t\u1ea1i thu\u1ea7n (NPV) l\u00e0 gi\u00e1 tr\u1ecb c\u1ee7a c\u00e1c d\u00f2ng ti\u1ec1n d\u1ef1 ki\u1ebfn, \u0111\u01b0\u1ee3c chi\u1ebft kh\u1ea5u \u1edf th\u1eddi \u0111i\u1ec3m hi\u1ec7n t\u1ea1i.\u00a0NPV l\u00e0 ph\u01b0\u01a1ng ph\u00e1p ti\u00eau chu\u1ea9n cho [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[429],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21757"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=21757"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21757\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=21757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=21757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=21757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}